Pantheon International PLC (LSE:PIN) increased its net asset value (NAV) by 3.1% in October, bringing per-share NAV to 490.8p.
The FTSE 250 investment trust’s NAV now stands at £2.30 billion, supported by foreign exchange gains of 16.5p per share, slightly offset by valuation losses of 1.4p per share.
Pantheon generated a net portfolio cash flow of £6.4 million during the month, receiving £18.8 million in distributions and making £12.4 million in capital calls.
Private equity assets were valued at £2.51 billion as of 31 October.
In line with its strategy to enhance shareholder value, Pantheon spent £3.8 million on share buybacks, acquiring 1.17 million shares at an average price of 320.3p per share, representing a 33.6% discount to NAV.
The company made no major new investment commitments during the month but noted an “active period for new commitments in the months ahead”.